ATLANTA - Graphic Packaging Holding Company (NYSE: GPK), a leading global provider of packaging solutions to food, beverage and other consumer products companies, today announced that its wholly owned subsidiary, Graphic Packaging International, Inc., has acquired the converting assets of Staunton, VA based Carded Graphics, an award winning printed folding carton producer with a strong regional position in the food, craft beer and other consumer product markets.
"The acquisition of Carded Graphics' assets represents a continuation of our strategy to grow in key geographies and end markets," said Michael Doss, Graphic Packaging's President and Chief Operating Officer. "The addition of this state-of-the-art converting facility increases our east coast presence allowing us to better service new and existing customers in that region, specifically the growing craft beer markets. We are also pleased to welcome Murry Pitts, President and CEO of Carded Graphics, and his outstanding leadership team to the Graphic Packaging team."
Murry Pitts said, "It is the perfect time for the Carded Graphics team to join Graphic Packaging. Our employees and customers will truly benefit from this union. Our speed to market philosophy combined with their strong, global position will bring much added value into the paperboard marketplace."
The transaction will be funded with existing cash and borrowings from Graphic Packaging's revolving line of credit.
About Graphic Packaging Holding Company
Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board. The Company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products, is available on the Company's web site at www.graphicpkg.com.
SOURCE Graphic Packaging Holding Company
CONTACT: Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company, 770-240-7971, Media Contact: Sue Appleyard, Graphic Packaging Holding Company, 773-332-3130
Web Site: http://www.graphicpkg.com